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Middleby (MIDD) Financials

Middleby logo
$139.46 +2.26 (+1.65%)
Closing price 04:00 PM Eastern
Extended Trading
$139.43 -0.03 (-0.02%)
As of 04:43 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Middleby

Annual Income Statements for Middleby

This table shows Middleby's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/2/2016 12/31/2016 12/30/2017 12/29/2018 12/28/2019 1/2/2021 1/1/2022 12/31/2022 12/30/2023 12/28/2024 1/3/2026
Net Income / (Loss) Attributable to Common Shareholders		 192 284 298 317 352 207 488 437 401 428 -278
Consolidated Net Income / (Loss)		 192 284 298 317 352 207 488 437 401 428 -278
Net Income / (Loss) Continuing Operations		 192 284 298 317 352 207 488 437 413 421 367
Total Pre-Tax Income 		281 421 384 424 463 268 620 564 536 566 482
Total Operating Income		 303 419 379 446 514 324 630 640 652 644 575
Total Gross Profit		 707 901 913 1,004 1,103 882 1,195 1,447 1,284 1,252 1,252
Total Revenue		 1,827 2,268 2,336 2,723 2,959 2,513 3,251 4,033 3,242 3,150 3,201
Operating Revenue		 1,827 2,268 2,336 2,723 2,959 2,513 3,251 4,033 3,242 3,150 3,201
Total Cost of Revenue		 1,120 1,367 1,423 1,719 1,856 1,631 2,056 2,586 1,958 1,898 1,949
Operating Cost of Revenue		 1,120 1,367 1,423 1,719 1,856 1,631 2,056 2,586 1,958 1,898 1,949
Total Operating Expenses		 404 482 534 558 589 558 565 807 632 608 677
Selling, General & Admin Expense		 375 472 468 539 594 532 668 797 625 590 663
Impairment Charge		 0.00 0.00 58 0.00 0.00 15 0.00 0.00 1.99 10 11
Restructuring Charge		 29 11 20 19 10 12 7.66 9.72 4.73 8.25 3.27
Other Special Charges / (Income)		 0.00 0.00 -12 0.00 -15 -1.98 -111 0.00 0.00 -1.14 0.00
Total Other Income / (Expense), net		 -21 2.29 4.92 -22 -51 -56 -10 -75 -116 -78 -93
Interest Expense		 17 24 26 59 53 79 57 89 121 93 94
Other Income / (Expense), net		 -4.47 26 31 36 1.46 22 47 14 4.78 15 1.21
Income Tax Expense		 90 137 85 106 110 61 131 128 123 145 115
Net Income / (Loss) Discontinued Operations		 - - - - - - - - -12 7.46 -645
Basic Earnings per Share		 $3.36 $4.98 $5.26 $5.71 $6.33 $3.76 $8.85 $8.07 $7.48 $7.97 ($5.38)
Weighted Average Basic Shares Outstanding		 56.95M 57.03M 56.72M 55.58M 55.65M 55.09M 55.22M 54.10M 53.58M 53.74M 51.66M
Diluted Earnings per Share		 $3.36 $4.98 $5.26 $5.70 $6.33 $3.76 $8.62 $7.95 $7.41 $7.90 ($5.32)
Weighted Average Diluted Shares Outstanding		 56.97M 57.09M 56.72M 55.60M 55.66M 55.14M 56.67M 54.95M 54.09M 54.21M 52.18M
Weighted Average Basic & Diluted Shares Outstanding		 57M 57.10M 56.70M 56.30M 56.19M 55.64M 54.66M 53.61M 53.60M 53.62M 47.18M

Quarterly Income Statements for Middleby

This table shows Middleby's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 7/1/2023 9/30/2023 12/30/2023 3/30/2024 6/29/2024 9/28/2024 12/28/2024 3/29/2025 6/28/2025 9/27/2025 1/3/2026
Net Income / (Loss) Attributable to Common Shareholders		 117 109 76 87 115 114 112 92 106 -513 37
Consolidated Net Income / (Loss)		 117 109 76 87 115 114 112 92 106 -513 37
Net Income / (Loss) Continuing Operations		 117 109 76 87 115 114 112 92 106 -513 682
Total Pre-Tax Income 		156 144 87 115 155 155 153 121 133 -579 807
Total Operating Income		 185 174 115 137 176 173 170 141 155 -554 833
Total Gross Profit		 393 375 387 346 380 355 389 346 371 361 173
Total Revenue		 1,040 981 1,009 927 992 943 1,014 907 978 982 335
Operating Revenue		 1,040 981 1,009 927 992 943 1,014 907 978 982 335
Total Cost of Revenue		 647 605 622 581 612 587 625 561 607 621 161
Operating Cost of Revenue		 647 605 622 581 612 587 625 561 607 621 161
Total Operating Expenses		 208 201 272 209 204 182 219 205 216 916 -660
Selling, General & Admin Expense		 204 196 192 206 199 179 178 203 214 204 43
Restructuring Charge		 4.94 4.45 2.44 3.18 5.35 2.52 3.14 2.73 2.29 2.82 -4.57
Total Other Income / (Expense), net		 -29 -30 -28 -22 -21 -19 -17 -19 -22 -25 -26
Interest Expense		 32 31 28 26 25 21 20 18 20 25 30
Other Income / (Expense), net		 2.90 1.03 0.57 3.98 3.63 2.64 3.11 -0.78 -2.55 0.44 4.10
Income Tax Expense		 39 36 11 28 39 41 41 29 27 -66 125
Basic Earnings per Share		 $2.18 $2.03 $1.42 $1.61 $2.15 $2.12 $2.09 $1.72 $2.01 ($10.15) $1.04
Weighted Average Basic Shares Outstanding		 53.53M 53.59M 53.58M 53.65M 53.77M 53.77M 53.74M 53.59M 52.62M 50.52M 51.66M
Diluted Earnings per Share		 $2.16 $2.01 $1.42 $1.59 $2.13 $2.11 $2.07 $1.69 $1.99 ($10.15) $1.15
Weighted Average Diluted Shares Outstanding		 54.04M 54.16M 54.09M 54.39M 54.07M 54.04M 54.21M 54.62M 53.15M 50.52M 52.18M
Weighted Average Basic & Diluted Shares Outstanding		 53.60M 53.60M 53.60M 53.77M 53.77M 53.79M 53.62M 53.48M 50.68M 50.37M 47.18M

Annual Cash Flow Statements for Middleby

This table details how cash moves in and out of Middleby's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/2/2016 12/31/2016 12/30/2017 12/29/2018 12/28/2019 1/2/2021 1/1/2022 12/31/2022 12/30/2023 12/28/2024 1/3/2026
Net Change in Cash & Equivalents		 12 13 21 -18 23 166 -83 -8.14 82 442 -445
Net Cash From Operating Activities		 250 294 304 369 377 525 423 333 629 687 630
Net Cash From Continuing Operating Activities		 250 294 304 369 377 525 423 333 509 615 565
Net Income / (Loss) Continuing Operations		 192 284 298 317 352 207 488 437 413 421 367
Consolidated Net Income / (Loss)		 192 284 298 317 352 207 488 437 401 428 -278
Net Income / (Loss) Discontinued Operations		 - - - - - - - - -12 7.46 -645
Depreciation Expense		 54 58 70 97 103 111 125 138 110 104 105
Non-Cash Adjustments To Reconcile Net Income		 16 28 24 -29 -21 7.64 -13 3.56 40 25 94
Changes in Operating Assets and Liabilities, net		 -12 -76 -87 -16 -58 191 -177 -246 -54 62 4.23
Net Cash From Discontinued Operating Activities		 - - - - - - - - 120 72 66
Net Cash From Investing Activities		 -371 -236 -345 -1,239 -328 -107 -1,009 -348 -156 -159 -127
Net Cash From Continuing Investing Activities		 -371 -236 -345 -1,239 -328 -107 -1,009 -348 -99 -146 -104
Purchase of Property, Plant & Equipment		 -22 -25 -54 -36 -47 -35 -47 -67 -59 -37 -71
Acquisitions		 -349 -211 -305 -1,203 -281 -86 -969 -281 -40 -112 -33
Sale of Property, Plant & Equipment		 0.00 0.00 14 0.00 0.00 14 6.29 0.00 0.00 2.51 0.00
Net Cash From Discontinued Investing Activities		 - - - - - - - - -57 -13 -23
Net Cash From Financing Activities		 137 -41 56 856 -25 -252 503 7.63 -391 -74 -971
Net Cash From Continuing Financing Activities		 137 -41 56 856 -25 -252 503 7.63 -391 -74 -971
Repayment of Debt		 -6.32 -468 -463 -755 -563 -3,355 -1,147 -1,580 -949 -35 -1,357
Repurchase of Common Equity		 -4.84 -4.42 -240 0.00 -6.14 -86 -29 -265 -75 -35 -724
Issuance of Debt		 146 433 759 1,611 543 3,297 1,739 1,870 640 0.00 1,130
Other Financing Activities, net		 2.41 -1.30 - 0.00 - -108 -60 -18 -7.70 -3.88 -20
Effect of Exchange Rate Changes		 -3.78 -4.05 6.34 -3.57 -1.51 - - - - - 23

Quarterly Cash Flow Statements for Middleby

This table details how cash moves in and out of Middleby's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 7/1/2023 9/30/2023 12/30/2023 3/30/2024 6/29/2024 9/28/2024 12/28/2024 3/29/2025 6/28/2025 9/27/2025 1/3/2026
Net Change in Cash & Equivalents		 1.27 15 74 94 118 145 97 49 -249 -315 69
Net Cash From Operating Activities		 62 219 256 141 150 157 240 141 122 176 191
Net Cash From Continuing Operating Activities		 62 219 256 141 150 157 240 141 122 181 120
Net Income / (Loss) Continuing Operations		 117 109 76 87 115 114 112 92 106 -513 682
Consolidated Net Income / (Loss)		 117 109 76 87 115 114 112 92 106 -513 37
Depreciation Expense		 31 33 34 32 32 31 32 32 32 33 8.14
Non-Cash Adjustments To Reconcile Net Income		 4.69 6.10 94 11 3.93 4.79 40 1.02 4.49 712 -624
Changes in Operating Assets and Liabilities, net		 -90 71 52 11 -1.45 6.93 55 16 -21 -51 60
Net Cash From Investing Activities		 -49 -54 -17 -16 -14 -14 -115 -35 -24 -51 -16
Net Cash From Continuing Investing Activities		 -49 -54 -17 -16 -14 -14 -115 -35 -24 -51 6.74
Purchase of Property, Plant & Equipment		 -23 -21 -16 -14 -11 -11 -13 -34 -21 -20 4.19
Acquisitions		 -26 -33 -0.98 -2.35 -3.29 -2.19 -104 -1.11 -3.50 -31 2.55
Net Cash From Financing Activities		 -12 -151 -165 -29 -14 -3.11 -28 -57 -346 -463 -105
Net Cash From Continuing Financing Activities		 -12 -151 -165 -29 -14 -3.11 -28 -57 -346 -463 -105
Repayment of Debt		 -197 -325 -237 -12 -12 -0.55 -12 -11 -11 -431 -903
Repurchase of Common Equity		 -6.90 - -0.02 -17 -0.98 -0.29 -16 -43 -323 -149 -209
Issuance of Debt		 195 175 75 0.00 - - - 0.00 - 121 1,009
Other Financing Activities, net		 -3.06 -1.02 -3.62 0.00 -1.60 -2.28 - -2.89 -12 -4.00 -1.04
Effect of Exchange Rate Changes		 - - - - - - - - - - -0.17

Annual Balance Sheets for Middleby

This table presents Middleby's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/2/2016 12/31/2016 12/30/2017 12/29/2018 12/28/2019 1/2/2021 1/1/2022 12/31/2022 12/30/2023 12/28/2024 1/3/2026
Total Assets		 2,761 2,917 3,340 4,550 5,002 5,202 6,384 6,875 6,907 7,283 6,315
Total Current Assets		 795 812 932 1,062 1,209 1,270 1,707 2,006 1,966 2,330 2,743
Cash & Equivalents		 56 68 90 72 95 268 180 162 247 639 222
Accounts Receivable		 283 326 328 399 448 363 577 631 645 532 573
Inventories, net		 354 368 425 522 586 540 837 1,078 936 656 693
Prepaid Expenses		 40 43 55 51 61 81 92 126 113 115 111
Current Deferred & Refundable Income Taxes		 63 6.40 34 18 20 18 20 9.49 25 24 41
Other Current Nonoperating Assets		 - - - - - - - - - 365 1,102
Plant, Property, & Equipment, net		 200 222 282 315 352 344 381 444 511 385 432
Total Noncurrent Assets		 1,778 1,884 2,126 3,174 3,441 3,587 4,296 4,425 4,430 4,568 3,141
Goodwill		 983 1,093 1,265 1,743 1,850 1,934 2,243 2,412 2,486 1,744 1,800
Intangible Assets		 749 696 780 1,361 1,443 1,450 1,875 1,794 1,693 1,100 1,061
Noncurrent Deferred & Refundable Income Taxes		 23 52 45 32 37 76 33 6.74 7.95 6.28 8.21
Employee Benefit Assets		 - - - - - - - 0.00 39 90 106
Other Noncurrent Operating Assets		 22 43 36 37 111 127 143 213 204 147 165
Other Noncurrent Nonoperating Assets		 - - - - - - - - - 1,481 0.00
Total Liabilities & Shareholders' Equity		 2,761 2,917 3,340 4,550 5,002 5,202 6,384 6,875 6,907 7,283 6,315
Total Liabilities		 1,594 1,652 1,979 2,885 3,055 3,226 3,889 4,077 3,657 3,645 3,539
Total Current Liabilities		 510 488 474 559 593 700 915 988 851 829 1,068
Short-Term Debt		 32 5.88 5.15 3.21 2.89 23 27 46 45 44 44
Accounts Payable		 158 147 146 188 174 183 305 271 227 166 207
Accrued Expenses		 320 336 322 367 417 495 583 671 579 494 575
Other Current Nonoperating Liabilities		 - - - - - - - - - 126 242
Total Noncurrent Liabilities		 1,084 1,163 1,505 2,326 2,462 2,526 2,974 3,089 2,806 2,815 2,471
Long-Term Debt		 734 726 1,024 1,889 1,870 1,707 2,387 2,677 2,380 2,351 2,129
Noncurrent Deferred & Payable Income Tax Liabilities		 113 78 88 114 134 147 187 220 216 151 157
Noncurrent Employee Benefit Liabilities		 207 323 335 253 289 470 220 15 12 9.57 7.63
Other Noncurrent Operating Liabilities		 30 36 59 70 169 202 181 177 197 171 178
Other Noncurrent Nonoperating Liabilities		 - - - - - - - - - 133 0.00
Total Equity & Noncontrolling Interests		 1,167 1,265 1,361 1,665 1,947 1,977 2,494 2,798 3,250 3,638 2,776
Total Preferred & Common Equity		 1,167 1,265 1,361 1,665 1,947 1,977 2,494 2,798 3,250 3,638 2,776
Preferred Stock		 - - - - - - - - - 0.00 0.00
Total Common Equity		 1,167 1,265 1,361 1,665 1,947 1,977 2,494 2,798 3,250 3,638 2,776
Common Stock		 329 355 375 378 388 433 357 409 479 520 603
Retained Earnings		 1,115 1,399 1,698 2,009 2,361 2,569 3,062 3,499 3,900 4,328 4,050
Treasury Stock		 -201 -205 -445 -445 -451 -537 -566 -831 -906 -941 -1,735
Accumulated Other Comprehensive Income / (Loss)		 -76 -284 -266 -276 -351 -488 -359 -278 -223 -269 -142

Quarterly Balance Sheets for Middleby

This table presents Middleby's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 10/1/2022 4/1/2023 7/1/2023 9/30/2023 3/30/2024 6/29/2024 9/28/2024 3/29/2025 6/28/2025 9/27/2025
Total Assets		 6,672 6,956 6,985 6,923 6,930 7,026 7,201 7,401 7,336 6,355
Total Current Assets		 1,951 2,061 2,036 1,961 2,022 2,143 2,292 2,414 2,260 1,969
Cash & Equivalents		 145 157 157 167 341 459 606 745 511 175
Accounts Receivable		 594 653 643 633 605 625 615 646 666 674
Inventories, net		 1,063 1,116 1,083 1,015 944 920 906 878 889 920
Prepaid Expenses		 121 124 132 131 116 126 134 131 134 139
Current Deferred & Refundable Income Taxes		 28 11 21 14 16 14 30 14 59 62
Plant, Property, & Equipment, net		 424 462 483 499 508 505 511 551 570 578
Total Noncurrent Assets		 4,297 4,434 4,465 4,463 4,400 4,378 4,399 4,437 4,506 3,807
Goodwill		 2,287 2,429 2,452 2,452 2,473 2,472 2,507 2,543 2,592 2,025
Intangible Assets		 1,782 1,791 1,791 1,776 1,669 1,651 1,651 1,606 1,614 1,470
Noncurrent Deferred & Refundable Income Taxes		 22 7.04 8.28 8.88 8.03 6.81 6.92 6.42 6.77 6.89
Employee Benefit Assets		 - - - - 43 47 55 96 105 104
Other Noncurrent Operating Assets		 206 207 215 226 207 201 179 184 188 201
Total Liabilities & Shareholders' Equity		 6,672 6,956 6,985 6,923 6,930 7,026 7,201 7,401 7,336 6,355
Total Liabilities		 4,173 4,094 3,985 3,827 3,619 3,604 3,608 3,671 3,713 3,417
Total Current Liabilities		 938 990 878 864 841 857 815 886 881 952
Short-Term Debt		 45 44 44 44 45 44 44 44 44 42
Accounts Payable		 261 282 233 224 233 239 215 231 236 258
Accrued Expenses		 632 664 601 596 563 574 556 611 601 651
Total Noncurrent Liabilities		 3,236 3,104 3,107 2,963 2,778 2,747 2,793 2,786 2,833 2,465
Long-Term Debt		 2,693 2,688 2,688 2,536 2,370 2,360 2,361 2,341 2,332 2,025
Noncurrent Deferred & Payable Income Tax Liabilities		 220 218 216 214 208 194 241 248 303 230
Noncurrent Employee Benefit Liabilities		 154 12 8.48 5.42 12 12 12 9.38 9.19 9.04
Other Noncurrent Operating Liabilities		 168 185 195 208 188 182 179 187 188 202
Total Equity & Noncontrolling Interests		 2,499 2,862 3,000 3,095 3,311 3,422 3,593 3,730 3,623 2,938
Total Preferred & Common Equity		 2,499 2,862 3,000 3,095 3,311 3,422 3,593 3,730 3,623 2,938
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 2,499 2,862 3,000 3,095 3,311 3,422 3,593 3,730 3,623 2,938
Common Stock		 393 426 444 464 493 501 510 523 529 597
Retained Earnings		 3,366 3,598 3,715 3,823 3,986 4,102 4,216 4,421 4,526 4,014
Treasury Stock		 -806 -899 -906 -906 -923 -924 -924 -983 -1,310 -1,523
Accumulated Other Comprehensive Income / (Loss)		 -454 -263 -254 -286 -245 -257 -208 -230 -123 -149

Annual Metrics And Ratios for Middleby

This table displays calculated financial ratios and metrics derived from Middleby's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/2/2016 12/31/2016 12/30/2017 12/29/2018 12/28/2019 1/2/2021 1/1/2022 12/31/2022 12/30/2023 12/28/2024 1/3/2026
DEI Shares Outstanding		 - - - - - - - - - - 50,371,250.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 50,371,250.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -5.51
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 206 283 294 334 391 251 497 495 490 487 438
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 8.96% 8.63% 8.07% 8.85%
Earnings before Interest and Taxes (EBIT)		 298 445 410 482 516 347 677 653 640 670 576
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 352 503 479 579 619 465 802 791 772 797 681
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -119 243 -77 -851 152 538 -793 -135 421 571 378
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,889 1,929 2,300 3,486 3,725 3,438 4,728 5,358 5,428 5,344 3,867
Increase / (Decrease) in Invested Capital		 325 40 371 1,185 240 -287 1,290 630 70 -84 59
Book Value per Share		 $20.36 $21.99 $24.34 $29.82 $34.68 $35.54 $44.84 $51.92 $60.63 $67.64 $55.12
Tangible Book Value per Share		 ($9.87) ($9.10) ($12.23) ($25.77) ($23.98) ($25.32) ($29.21) ($26.14) ($17.34) ($9.12) ($1.68)
Total Capital		 1,933 1,997 2,390 3,557 3,820 3,706 4,909 5,520 5,675 6,033 4,949
Total Debt		 766 732 1,029 1,892 1,873 1,730 2,414 2,722 2,425 2,395 2,173
Total Long-Term Debt		 734 726 1,024 1,889 1,870 1,707 2,387 2,677 2,380 2,351 2,129
Net Debt		 711 664 939 1,820 1,779 1,461 2,234 2,560 2,178 1,706 1,951
Capital Expenditures (CapEx)		 22 25 40 36 47 21 40 67 85 47 71
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 262 261 374 434 524 325 639 901 912 855 1,497
Debt-free Net Working Capital (DFNWC)		 317 329 463 506 619 593 819 1,063 1,160 1,545 1,719
Net Working Capital (NWC)		 285 323 458 503 616 570 792 1,018 1,115 1,501 1,674
Net Nonoperating Expense (NNE)		 15 -1.54 -3.82 17 39 44 8.27 58 89 59 716
Net Nonoperating Obligations (NNO)		 722 664 939 1,820 1,779 1,461 2,234 2,560 2,178 1,706 1,091
Total Depreciation and Amortization (D&A)		 54 58 70 97 103 119 125 138 133 127 105
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $3.36 $4.98 $0.00 $5.71 $6.33 $3.76 $8.85 $8.07 $7.48 $7.97 ($5.38)
Adjusted Weighted Average Basic Shares Outstanding		 56.95M 57.03M 56.72M 55.58M 55.65M 55.09M 55.22M 54.10M 53.58M 53.74M 51.66M
Adjusted Diluted Earnings per Share		 $3.36 $4.98 $5.26 $5.70 $6.33 $3.76 $8.62 $7.95 $7.41 $7.90 ($5.32)
Adjusted Weighted Average Diluted Shares Outstanding		 56.97M 57.09M 56.72M 55.60M 55.66M 55.14M 56.67M 54.95M 54.09M 54.21M 52.18M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 57.31M 57.54M 55.73M 55.70M 56.19M 55.64M 54.66M 53.61M 53.60M 53.62M 47.18M
Normalized Net Operating Profit after Tax (NOPAT)		 226 290 346 348 388 271 415 502 561 525 448
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Middleby

This table displays calculated financial ratios and metrics derived from Middleby's official financial filings.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 7/1/2023 9/30/2023 12/30/2023 3/30/2024 6/29/2024 9/28/2024 12/28/2024 3/29/2025 6/28/2025 9/27/2025 1/3/2026
DEI Shares Outstanding		 - - - - - - - - - - 50,371,250.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 50,371,250.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.73
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 138 131 101 103 131 128 125 107 124 -388 704
Return On Investment Capital (ROIC_SIMPLE)		 - - 1.77% - - - 2.07% 1.75% 2.06% -7.75% 14.23%
Earnings before Interest and Taxes (EBIT)		 188 175 115 141 179 176 173 140 153 -554 837
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 219 209 149 174 211 207 205 172 185 -521 845
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -488 -285 31 157 338 244 208 122 3.66 174 645
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 5,574 5,508 5,428 5,385 5,367 5,392 5,344 5,370 5,487 4,830 3,867
Increase / (Decrease) in Invested Capital		 626 417 70 -53 -207 -116 -84 -15 120 -562 59
Book Value per Share		 $56.05 $57.74 $60.63 $61.71 $63.64 $66.82 $67.64 $69.56 $67.73 $57.96 $55.12
Tangible Book Value per Share		 ($23.23) ($21.13) ($17.34) ($15.50) ($13.03) ($10.50) ($9.12) ($7.83) ($10.92) ($11.01) ($1.68)
Total Capital		 5,731 5,675 5,675 5,726 5,826 5,998 6,033 6,115 5,998 5,005 4,949
Total Debt		 2,732 2,580 2,425 2,415 2,404 2,405 2,395 2,385 2,376 2,067 2,173
Total Long-Term Debt		 2,688 2,536 2,380 2,370 2,360 2,361 2,351 2,341 2,332 2,025 2,129
Net Debt		 2,575 2,413 2,178 2,074 1,945 1,799 1,706 1,640 1,864 1,892 1,951
Capital Expenditures (CapEx)		 23 21 16 14 11 11 13 34 21 20 -4.19
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,045 974 912 885 871 915 855 827 911 885 1,497
Debt-free Net Working Capital (DFNWC)		 1,202 1,141 1,160 1,226 1,331 1,521 1,545 1,572 1,423 1,060 1,719
Net Working Capital (NWC)		 1,158 1,097 1,115 1,181 1,286 1,477 1,501 1,528 1,379 1,018 1,674
Net Nonoperating Expense (NNE)		 21 23 24 17 16 14 12 15 18 125 667
Net Nonoperating Obligations (NNO)		 2,575 2,413 2,178 2,074 1,945 1,799 1,706 1,640 1,864 1,892 1,091
Total Depreciation and Amortization (D&A)		 31 33 34 32 32 31 32 32 32 33 8.14
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.18 $2.03 $1.42 $1.61 $2.15 $2.12 $2.09 $1.72 $2.01 ($10.15) $1.04
Adjusted Weighted Average Basic Shares Outstanding		 53.53M 53.59M 53.58M 53.65M 53.77M 53.77M 53.74M 53.59M 52.62M 50.52M 51.66M
Adjusted Diluted Earnings per Share		 $2.16 $2.01 $1.42 $1.59 $2.13 $2.11 $2.07 $1.69 $1.99 ($10.15) $1.15
Adjusted Weighted Average Diluted Shares Outstanding		 54.04M 54.16M 54.09M 54.39M 54.07M 54.04M 54.21M 54.62M 53.15M 50.52M 52.18M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 53.60M 53.60M 53.60M 53.77M 53.77M 53.79M 53.62M 53.48M 50.68M 50.37M 47.18M
Normalized Net Operating Profit after Tax (NOPAT)		 142 135 103 106 135 130 127 109 126 110 700
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Financials Breakdown Chart

Key Financial Trends

MarketBeat analyzed Middleby (NASDAQ:MIDD) quarterly data across the last four years. The picture shows solid profitability and cash generation in many quarters, but also notable volatility, one-off charges, and higher leverage in recent periods. Here are the 10 most important points for retail investors to consider, organized from positive to negative.

  • In Q4 2025, net income attributable to common shareholders was $36.94 million, with Basic EPS of $1.04 and Diluted EPS of $1.15, signaling a return to quarterly profitability in the latest quarter.
  • Q4 2025 gross margin was about 52% (Total Gross Profit $173.39M on Revenue $334.59M), a meaningful improvement versus many prior quarters where gross margins were in the mid-30s to low-40s range.
  • Cash flow from continuing operating activities remained positive in 2025, with Q3 2025 at about $181.0M and Q4 2025 at about $120.5M, underscoring solid cash generation from core operations.
  • In Q4 2025, the company raised liquidity via a debt issuance of about $1.008 billion, complemented by debt repayments, indicating a refinancing move to support operations and capital needs.
  • The balance sheet shows a robust equity base, with Total Common Equity around $2.94 billion in mid-2025, reflecting a solid capital structure to support continued operations and potential growth initiatives.
  • Over the four-year horizon shown, Middleby demonstrated multiple quarters of positive net income and ongoing cash generation from operations, indicating underlying profitability despite episodic volatility in certain quarters.
  • Revenue shows notable quarterly volatility. For example, Q4 2025 revenue dropped to $334.6 million from roughly $1.04 billion in Q4 2024, suggesting seasonality or one-time effects rather than a consistent trend.
  • Q3 2025 included a large impairment charge of $709.12 million, a non-cash item that temporarily depressed reported profitability and may obscure ongoing operating performance in that period.
  • Long-term debt remained substantial (around $2.0–$2.3 billion across recent quarters), contributing to interest expense and leverage considerations for investors.
  • Cash flow from financing activities was negative in several quarters (for example Q3 2025: −$462.58 million; Q4 2025: −$104.90 million), signaling meaningful financing activity and debt servicing that can impact near-term liquidity and equity value.
05/05/26 05:34 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Middleby's Financials

When does Middleby's fiscal year end?

According to the most recent income statement we have on file, Middleby's financial year ends in January. Their financial year 2026 ended on January 3, 2026.

How has Middleby's net income changed over the last 10 years?

Middleby's net income appears to be on a downward trend, with a most recent value of -$277.73 million in 2025, falling from $191.61 million in 2015. The previous period was $428.43 million in 2024. Find out what analysts predict for Middleby in the coming months.

What is Middleby's operating income?
Middleby's total operating income in 2025 was $574.89 million, based on the following breakdown:
  • Total Gross Profit: $1.25 billion
  • Total Operating Expenses: $677.02 million
How has Middleby's revenue changed over the last 10 years?

Over the last 10 years, Middleby's total revenue changed from $1.83 billion in 2015 to $3.20 billion in 2025, a change of 75.3%.

How much debt does Middleby have?

Middleby's total liabilities were at $3.54 billion at the end of 2025, a 2.9% decrease from 2024, and a 122.0% increase since 2015.

How much cash does Middleby have?

In the past 10 years, Middleby's cash and equivalents has ranged from $55.53 million in 2015 to $638.77 million in 2024, and is currently $222.24 million as of their latest financial filing in 2025.

How has Middleby's book value per share changed over the last 10 years?

Over the last 10 years, Middleby's book value per share changed from 20.36 in 2015 to 55.12 in 2025, a change of 170.7%.


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Financial statements for NASDAQ:MIDD last updated on 3/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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